Poll: With More Foreclosures Hitting the Market, Do You See Any Opportunities?

It is hard to ignore all of the news surrounding real estate, subprime mortgages, and foreclosure rates, but even with such bad news, is there a bright spot to it all? You can’t deny the fact that this situation is having a significant impact on our economy and many homeowners, but as with everything, with the bad comes possible opportunities for others.

My name is Jeremy Vohwinkle, and I’ve spent a number of years working in the finance industry providing financial advice to regular investors and those participating in employer-sponsored retirement plans.

Other. My wife and I have only owned our house for 2 years and have no plans to move right now. We also don't want to become landlords right now because we are not sure how long we will live in this area. Probably a couple more years, but currently onknown.

If I were looking to buy, I think there are opportunities, especially where I live, which has one of the higher foreclosure rates in the US.

Other. Put a 5% downpayment on a house less than 6 months ago, as the market was starting to turn downwards. We would have liked to wait longer, but were tired of moving every year or so when leases were up.

I believe prices will fall for another 12 - 18 months, but that doesn't mean there are great opportunities out there right now. Looking just for pre-foreclosures might not be the best stratgey since most of these don't have any equity to negotiate.

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Hello and welcome to Gen X Finance. My name is KC.
Between saving and investing I was able to accumulate a net worth of over a million dollars before I turned 30.
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I graduated from college early in 2000 with a bachelors in … Read More...